SunEdison Brings 14 MW of Solar Power to Long Island as Part of New York State Initiative

May 28 – PR Newswire

SunEdison, Inc. (NYSE: SUNE) the world’s largest renewable energy development company, today announced that it has signed agreements with five municipal entities on Long Island to build seven solar power plants totaling 14 megawatts (MW) DC.

The electricity from these power plants will be sold to the Long Island Power Authority (LIPA), an electricity service provider for 1.1 million customers in Long Island , New York , through separate 20 year power purchase agreements. The contracts with the Town of Southold , Town of Easthampton, Nassau County , Suffolk County and the Suffolk County Water Authority were awarded as part of the LIPA 100 MW Clean Solar Initiative Feed-in Tariff program.

“LIPA’s Clean Solar Initiative program allows communities to benefit from locally generated solar energy, enabling them to better control energy costs,” said Steve Raeder , managing director of Eastern USA distributed generation for SunEdison . “This program has been extremely successful and we look forward to developing more projects in Long Island .”

Raeder went on to say: “And with the new NYSERDA block incentive program and the governor’s Reforming the Energy Vision plan, we can replicate our success in Long Island and bring clean, affordable solar energy to customers across the entire state of New York .”

The solar power plants are expected to produce enough electricity to power more than 1,100 homes, and should eliminate the emission of more than 27 million pounds of carbon dioxide annually, the equivalent of taking more than 2,600 cars off the road. As an added benefit, the construction of these solar power plants will create an estimated 100 jobs in the Long Island area.

These solar power plants are on the Call Right Projects List for SunEdison’s Yieldco affiliate, TerraForm Power, Inc. (Nasdaq: TERP), a global owner and operator of clean energy power plants. Accordingly, TerraForm Power expects to purchase these projects upon completion. Operation and maintenance of the solar power plant will be performed by SunEdison Services, which provides global 24/7 asset management, monitoring and reporting services.

About SunEdison

SunEdison is the world’s largest renewable energy development company and is transforming the way energy is generated, distributed and owned around the globe. The company manufactures solar technology and develops, finances, installs, owns and operates wind and solar power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers. SunEdison is one of the world’s largest renewable energy asset managers and provides asset management, operations and maintenance, monitoring and reporting services for its renewable energy customers around the world. Corporate headquarters are in the United States , with additional offices around the world. SunEdison’s common stock is listed on the New York Stock Exchange under the symbol “SUNE.” To learn more visit www.sunedison.com .

Forward Looking Statements

Certain matters discussed in this press release are forward-looking statements, including: the solar power plants are expected to produce enough electricity to power more than 1,100 homes, and should eliminate the emission of more than 27 million pounds of carbon dioxide annually, the equivalent of taking more than 2,600 cars off the road; and the construction of these solar power plants will create an estimated 100 jobs in the Long Island area. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include changes in applicable regulatory requirements and incentives for production of solar power; and general business and economic conditions, including seasonality of the industry, and other risks described in SunEdison’s filings with the United States Securities and Exchange Commission . These forward-looking statements represent SunEdison’s judgment as of the date of this press release. SunEdison disclaims, however, any intent or obligation to update these forward-looking statements.

SAN DIEGO, Calif., Feb. 19, 2015 /PRNewswire/ — Borrego Solar Systems Inc., a leading designer, developer, installer and financier of grid-tied solar photovoltaic (PV) systems, today announced that it is about to commence construction of a 3.9 megawatts (MW) (DC) wholesale distributed generation (WDG) solar PV system in Suffolk County, Long Island, New York. The project was originally developed by local developer STR Systems NY, LLC and will be financed by General Energy Solutions (GES), a global solar module manufacturer, system financier and system owner.

Located in Calverton, New York, on private industrial zoned land, the project will supply energy to PSEG-LI as a result of the utility’s first Clean Solar Initiative Feed-in-Tariff (FIT) program. Under the program, PSEG-LI agrees to purchase solar PV energy at a fixed rate of $.22/kWh over the 20-year term of a Power Purchase Agreement (PPA). The project will generate enough clean renewable electricity to power 600 homes and will provide local jobs through construction and long term operation and maintenance.

“We’re excited to be a part of this project—it’s among the first Clean Solar Initiative FIT program projects in this size class to commence construction,” said Brian von Moos, VP of utility project development at Borrego Solar. “Having been involved with the project through the early phases of development, it is rewarding to have the development and financing phases behind us and to be moving full force into construction.”

“This project is a great example of the benefits of involving a reputable development value add EPC firm such as Borrego Solar early in the development phase,” said Kai Lin, GES project manager. “As the project is passed from developer to project owner Borrego acts as the glue that provides consistency to the project backed with a bonded competitive EPC price.”

The popularity of the first FIT program has paved the way for PSEG-LI’s second larger program, the Clean Solar Initiative Feed-In Tariff II. With a 100 MW limit, the FIT II program collected offers early this year and projects are currently going through the interconnection study process before signing up to PPA’s.

“Although it may take some time for the FIT II projects to make their way through the development cycle, we expect to see more announcements shortly of additional large scale FIT I projects breaking ground,” said Aaron Halimi, director of utility project development at Borrego Solar.

The project is Borrego Solar and GES’s second project together in New York—the first being a 2.5 MW project for Houghton Collegein Western New York, which will be completed in April 2015. This is Borrego Solar’s second project under PSEG-LI’s FIT I program under construction. The first is a 6.3 MW AC project with sPower (Sustainable Power Group).

About Borrego SolarEstablished in 1980, Borrego Solar Systems, Inc. is one of the nation’s leading financiers, designers, developers and installers of commercial and utility solar power systems. Borrego Solar’s photovoltaic systems are efficient, reliable and cost-effective. With more than three decades of experience and more than 1,000 solar power installations completed—totaling over 150 MW—Borrego Solar offers a complete line of solar system design and installation services throughout North America. Borrego Solar was recently ranked as the #2 commercial EPC in the United States and the #2 commercial contractor in California by Solar Power World. For more information, visit www.borregosolar.com.

About GESGeneral Energy Solutions USA, a global solar energy company headquartered in Taiwan, is proud to help our clients secure a brighter and cleaner future by harnessing solar power to efficiently, safely and responsibly meet our energy needs, while also reducing greenhouse gas emissions and decreasing reliance on traditional fuels. Through close alliances with strategic partners, GES invests responsibly in our communities at every step of the process to complete integrated solar energy solutions: wafers; solar cells; photovoltaic modules; and solar farm design, construction and operation. For more information, please visit www.gesyw.com.

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